Media: Saudi Arabia took revenge on Biden for criticizing his leadership
Saudi Arabia, by refusing to renew the petrodollar agreement with the United States, took revenge on President Joe Biden for his statements addressed to Crown Prince Mohammed bin Salman, writes the Turkish newspaper Sabah.
Previously, during the 2020 election campaign, Biden called bin Salman a “rogue” and promised to bring him to justice for the death of journalist Jamal Khashoggi.
The author of the article, Sabah Foreign News Director Bercan Tutar, noted that the US is currently facing a sharp change in the position of its strategic partners, as well as changes in political balances. In his opinion, at the moment, Europe and the United States are heading for a disaster in their domestic and foreign policies, and the established order is collapsing.
“Western leaders pursuing maximalist goals are accelerating the transition to a post-American era even more,” the article says.
Tutar calls Saudi Arabia’s decision to abandon the dollar monopoly in its oil trade “a complete fiasco” for Washington.
“There is no doubt that the collapse of the petrodollar will also be the end of the United States as a global superpower,” the author of the article writes, announcing global turmoil in financial markets.
“The crown prince took revenge on Biden, who called him an “outcast,” Tutar writes.
On June 9, the 1973 agreement expired, according to which Saudi Arabia was obliged to set prices for exported oil exclusively in US dollars and invest excess oil revenues in American Treasury bonds. In exchange, Washington guaranteed military security.